Wipro Ventures invests in Tradeshift

Software services firm Wipro today said its investment arm, Wipro Ventures has invested in Tradeshift, a business commerce platform.
Besides, Wipro has forged a strategic partnership with the US-based firm to offer cloud-based source-to-pay (S2P) business process as a service (BPaaS) solution.
"Wipro Ventures has made an investment in Tradeshift to strengthen the partnership and further develop Tradeshift's innovative applications, trade financing solutions, platform and business-to-business marketplace ecosystem," it said in a statement.
However, no details of the investment were disclosed.
"The partnership aims to help customers accelerate digitalisation and automation in their procurement, finance and accounting functions," Wipro said.

Headquartered in San Francisco, Tradeshift offers a business commerce platform to digitally connect companies through cloud-based, collaborative accounts payable and procurement automation.

By adding Tradeshift's capabilities, Wipro will be able to standardise and continually expand its business process as a service (BPaaS) offerings.
In turn, businesses can automate processes, connect stakeholders and help customers collect and analyse data around all of their transactions, covering invoices, purchase orders and payments.
"Joining forces with an innovative company such as Tradeshift will provide our customers access to their global, cloud-based supply chain platform," Wipro Senior Vice President and Global Head (Business Process Services) Nagendra P Bandaru said.

In a separate statement, Wipro said it has partnered PATH, an international non-profit organisation focused on improving health care, especially for women and children.
"Wipro and PATH will partner to improve health outcomes in developing countries in Africa and Asia Pacific by collaborating on information and technology systems that accelerate progress on health innovations in low-resource environments," it said.
As part of the engagement, PATH and Wipro will co-create a platform for PATH's global health programs that makes more effective and efficient use of data from internal and external sources, it added.